ShiftPixy Now Listed on Nasdaq: PIXY

WR Hambrecht + Co successfully completed a Regulation A+ offering for ShiftPixy – raising $12 million for the company that is revolutionizing the way shift workers are served. ShiftPixy offers a number of solutions for both part-time workers and employers that fit squarely into the new, explosively growing “Gig Economy.”

WR Hambrecht + Co used its extensive network of broker-dealer partners to place 2 million shares at an offering price of $6.00 per share. Roughly 700 investors contributed at an average size of nearly $17,500 per.

Regulation A+ offerings involve publicly traded shares – and can be listed on national exchanges – ShiftPixy was listed immediately upon the close of the offering and currently trades on Nasdaq.

ShiftPixy faces an enormous opportunity – and was able, through WRH+Co’s marketing efforts, to tell its story to a receptive investor audience – in fact, the stock has performed handsomely – up by over 50% from its offering price. This interest appears to be driving impressive trading volumes – excluding the first day of trading, the running average daily volume is 1.46 million shares. In other words, it’s behaving very much like a conventional, S-1 Offering from a bulge bracket firm.

It is WR Hambrecht + Co’s contention that Regulation A+, introduced as part of the Jumpstart Our Business Startups (JOBS) Act, represents a totally new platform for providing growth capital to promising, early stage companies. And has the potential to stimulate the economy. The Reg A+ format confers several advantages to issuers, including the reach to a broader and greater number of investors. Speed to market is another advantage. Also, costs to the issuer are considerably lower – the combined legal and accounting fees for this recent offering of ShiftPixy tallied substantially less than conventional S-1 offerings that cost well over $1 million.

WRH + Co. advises companies on the Reg A+ process in order to efficiently raise capital and go public early. In addition to WRH + Co.’s venture business through its parent company, Hambrecht Partners Holdings, LLC, WRH + Co. works with other Broker Dealers in implementing the OpenIPO Auction product. WRH+Co. is not a registered Broker Dealer nor conducts IPO underwriting. All transactions referenced are historical.